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ARTICLE · 11 JANUARY 2017

Why You Need A Will

McLennan Ross LLP
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There are many reasons for you to make a will. Do you have children? Do you own a house, car, valuable personal items, or shares in a business?

CanadaFamily and Matrimonial
McLennan Ross LLP
McLennan Ross LLP
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There are many reasons for you to make a will.  Do you have children? Do you own a house, car, valuable personal items, or shares in a business?  Do you have a Registered Retirement Savings Plan, Pension or Insurance Plan?  If the answer to any of these questions is yes, then the reason you need a will is to determine who will gain the benefit or value of your estate's assets ("Estate") on your death.

Generally speaking, you are able to divide your Estate however you choose.  The notable exception to this rule is that your will must ensure that your spouse and any dependant children are provided for.  Outside of this requirement, you are free to name beneficiaries and determine what specific assets or shares of the Estate those beneficiaries are entitled to receive. 

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